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Wednesday, 10/27/2021 8:58:09 AM

Wednesday, October 27, 2021 8:58:09 AM

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Wednesday's Top Analyst Upgrades and Downgrades: Abbott Labs, Alphabet, Cloudflare, DraftKings, Microsoft, UPS and More
By: 24/7 Wall St. | October 27, 2021

These are the top analyst upgrades, downgrades and initiations seen on Wednesday October 27, 2021.

Abbott Laboratories (NYSE: ABT): Atlantic Equities upgraded shares of the pharmaceutical giant to Overweight from Neutral and have a $144 price target. The Wall Street consensus target is $137.05. The shares closed on Tuesday at $128.13.

Alphabet Inc. (NASDAQ: GOOGL): Goldman Sachs reiterated a Buy rating after the technology giant reported earnings that beat estimates but were not out of the park. The analyst’s $3,350 price target compares with the $3,183 consensus and Tuesday’s closing print of $2,786.17. The shares were lower in premarket trading.

AppLovin Corp. (NYSE: APP): BTIG Research began coverage with a Buy rating and a $114 price target. The consensus target is $94.78, and Tuesday’s closing print was $94.01 per share.

Bally’s Corp. (NASDAQ: BALY): Goldman Sachs started coverage with a Neutral rating and a $52 price target. The consensus price objective is $71.71. The final trade for Tuesday was reported at $52.01.

Cloudflare Inc. (NYSE: NET): Though Jefferies downgraded the security software stock to Hold from Buy, it also raised the target price to $195 from $135. The consensus target is $135.31. The stock closed Tuesday at $185.36, which was down over 4%. The selling returned in the premarket, when it was down an additional 4%.

DraftKings Inc. (NASDAQ: DKNG): BTIG Research started coverage on the popular online gambling site with a Neutral rating. The stock has traded in a 52-week range of $34.90 to $74.38 and has a $69.89 consensus price objective. The shares were last seen on Tuesday at $48.75, after a gain of over 4% for the day.

Ecolab Inc. (NYSE: ECL): JPMorgan’s downgrade was from Neutral to Underweight with a $230 price target. The consensus target is $233.06. The stock rose almost 4% on Tuesday to close at $230.28. As it is trading right at a 52-week high after a strong move, this looks like a valuation call.

FuboTV Inc. (NASDAQ: FUBO): BTIG Research started coverage with a Neutral rating. The shares have traded in a wide range over the past 52 weeks of $12.40 to $62.29 a share. The final trade for Tuesday was reported at $29.27.

Kite Realty Group Trust (NYSE: KRG): Jefferies started coverage with a Buy rating and a $26 price target. That compares with a consensus target of $24.50 and Tuesday’s closing print of $21.22.

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